InterNACHI has created a new legal document that will help protect inspectors that participate in InterNACHI’s Buy Back Program.
If InterNACHI buys back a home under the Buy Back Program, InterNACHI will require the owner to first sign a Release that releases the inspector from any liability.
The new Release also requires the homeowner(s) to agree to refrain from making any statements to others that might cast the inspector in a negative light.
You may view the new Release at:
Thanks Mark.
That’s cool.
So how many homes has InterNACHI bought back so far?
We’re on our 5th Buy Back.
We bought two homes outright. We facilitated the sales of the other three to buyers without the deed ever being in InterNACHI’s name. All were handled swiftly and to the complete satisfaction of the consumer.
In two of the three cases where we facilitated the transaction, the original listing agent found backup buyers (from when they were listed) in less than 24 hours for us and both original agents were paid handsome facilitation fees by InterNACHI for handling everything.
We’re buying another one outright in Wichita, KS at the end of this month and we hope to do a short video documentary with the consumer to promote the program.
More information about InterNACHI’s “We’ll Buy Your Home Back” Guarantee here: www.nachi.org/buy and we have an InterNACHI member FAQ page (members-only) here: www.nachi.org/buy-faq.htm
Thanks. What states were the houses in? Do you remember what any of the specific issues were as to why the home buyer decided to use this program?
Nothing much of anything. I’m convinced that many of them suffer from buyer’s remorse, get all angry about their situation, and then start taking it out on the agents and the inspector. InterNACHI’s Buy Back Guarantee solves everything for all parties and makes everyone happy. It’s a win-win-win-win.
We’ve only recently had to deny one because of mold. We don’t buy back any home with material defects not present at the time of the inspection (it wasn’t), or not required to be inspected (mold isn’t) for obvious reasons.
Anyway, it’s a killer marketing tool for members. No other “twice-your-inspection-fee-back” guarantee or limited warranty comes anywhere close in terms of having the “WOW!” factor this program does.
Did Internachi make a profit or loss on the turn overs of these buy backs;-)
I am happy I was one of the first to sign up for this program and have never looked back. Some just sit on the tracks and get run over by the train??? Another saying I like is (A bad attitude is like a flat tire, one can not go anywhere unless you change it)
Nick, first time I heard NACHI bought back one and you say 5th ?
What happened to the giant oversize check party we were waiting for ? .
Just another failed promise! Nick did PROMISE he would be screaming from the rooftops on the first one he had to “Buy Back”.
It had to be the right consumer, one where the consumer is happily cooperative. A project that doesn’t harm the member’s reputation but enhances it. And one where we have legal permission to use the photo commercially (read Mark’s release).
Read Mark’s link. That’s what this release gives us permission to do (commercially).
OK so it did not occur due to a legal oversight and will be forthcoming.
Just was curious as I was waiting for the big marketing McGuffin to see how it was handled.
No. The legal release is only one piece of the puzzle. We have to have a consumer willing to allow us to take the photo as well. And we have to have a consumer willing to smile while we take the photo. And we have to have their permission to use the photo. And on and on.
This most recent Buy Back deal appears to have all the stars aligned, so much so that we are likely going to make a short video instead of use a photo with a fat check. The check isn’t the important part. How the consumer is helped by the program and how happy they are is what we want to express.
If it works like I hope, we’ll never do the fat check photo. Jeffrey Jonas can call that “a failed promise” if he likes. I call it advanced marketing.
Charley Bottger writes:
Yep. Explain it to Jeffery Jonas.
And here is the absurd part. He is complaining about how we run a program that he doesn’t even participate in: http://www.nachi.org/guaranteed-inspectors.htm
Nick you are old enough by now that you should know one can not explain anything to a fence post especially when the fence post thinks they already know everything;-)
So of the 5 you bought back it didn’t make the home buyer happy; and they were still upset with the inspector?
At first, they were all upset with the inspector, the inspection, the agents, the sellers, their spouses, the house, life itself or some combination of all of the above.
The Buy Back Guarantee is a blessing to them (and everyone else involved in the real estate transaction), especially after we smoothly help them unwind their purchase.
But again, I have to have the right deal, the right member, the right reason for the consumer to be unhappy with their purchase, the right consumer with the right attitude willing to cooperate and permit us to essentially “use them” for marketing purposes.
I now believe all the stars aligned for this next Buy Back.
Want the big check picture or it is a sham…
InterNACHI rocks!!!
Who else in the entire industry has a buy back offer like this? Amazing.
I’ll get a PIC of the next one for you Bob. I just don’t see the marketing value in it for members. It’s not like the consumer gets the money, it goes to either paying off the house we’re buying from them or for the house they are buying. It’s not like they won the lottery. They’re just getting their money back.
The real marketing value is in satisfying our members’ clients, right up to buying their entire house back and helping them unwind the purchase they are unhappy about having made.
And aside from being an awesome marketing tool for both agents and inspectors… it actually is a real service that helps consumers in a real way. The Buy Back Guarantee program is just a big win all the way around for everyone.
